HELLA successfully completes exit from joint venture HBPO

Lippstadt, 12 December 2022. HELLA, the automotive supplier operating under the umbrella brand FORVIA, today completed the exit from the joint venture HBPO Beteiligungsgesellschaft mbH ("HBPO"). Following the approval of the responsible regulatory authorities, the 33.33 percent share in the joint venture has been successfully transferred to the previous co-shareholder Plastic Omnium. The purchase price amounts to € 290 million, including a dividend of approximately € 8 million. HELLA and Plastic Omnium had agreed on a corresponding share purchase and assignment agreement in July this year. On the one hand, HELLA is consistently continuing its proven portfolio management with the now successfully completed sale of shares. Above all, the company's profile as a focused technology company with the strategic core business areas of Lighting, Electronics and Lifecycle Solutions is to be further sharpened. On the other hand, the transaction is based on a possible use of the change of control clause by Plastic Omnium, which is stipulated in the joint venture agreement and can be used after the acquisition of the majority shares in HELLA by Faurecia.

HBPO is one of the world's leading suppliers of highly integrated front-end modules, with sales of € 2.2 billion in 2021. The company employs around 2,800 people at more than 30 locations worldwide. HBPO was founded in 2004 as an equal joint venture between the automotive suppliers HELLA, Behr (now MAHLE) and Plastic Omnium. In 2018, MAHLE sold its shares in the joint venture to Plastic Omnium.